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What is Chromia (CHR)?

Chromia basic info

Name:Chromia

Ticker:

CHRBuy now

Introduction:

What is Chromia (CHR)?

Chromia, trading under the name CHR, is a blockchain platform that facilitates the creation of decentralized applications. Unlike other existing platforms, Chromia is designed to overcome their shortcomings. The whitepaper claims that the platform enables decentralized applications of the latest generation to achieve what is currently impossible with current decentralized applications. Previously known as Chromopolis, Chromia's goal is to solve the issues that developers face when trying to create decentralized applications on other platforms. These issues include poor user experience, high fees, lack of developer experience, weak security, and more. As a result, many decentralized applications are unable to run on the mainstream due to these challenges.

Who are the Founders of Chromia (CHR)?

Chromia is the brainchild of three blockchain pioneers: Henrik Hjelte, Or Perelman and Alex Mizrahi. Prior to this, they worked together on Colored Coins, which was one of the first protocols to enable user-defined assets on a blockchain, and Safebit, a user-friendly Bitcoin wallet. They also founded ChromaWay, which provides blockchain solutions for sectors like finance, real estate, gaming, and public services.

Chromia has had three rounds of funding so far. The first was a private sale in 2018 that raised $3 million from various investors such as NGC Ventures, JRR Crypto, and more. The second was a public sale in 2019 that raised $2.5 million from KuCoin Spotlight. The third was a seed round in 2019 that raised an undisclosed amount from Binance Labs. In addition to these rounds, Animoca Brands, a leading developer and publisher of mobile games and blockchain gaming platforms, made a strategic investment in Chromia in 2020.

How does Chromia (CHR) Work?

To address the challenges faced by developers and users, Chromia has prioritized three main goals: enabling millions of users worldwide to utilize decentralized applications, improving the user experience of these applications to match that of centralized applications, and allowing developers to build secure and bug-free applications with similar standards. The platform already has multiple decentralized applications built on it, including My Neighbor Alice, a game where players can own and trade virtual islands, collect and build items, and meet new people. Enterprises can also benefit from Chromia, with apps like LAC PropertyChain facilitating property transactions, and Hedget, a decentralized finance application that helps secure investments from unexpected price drops. Chromia operates on the Ethereum blockchain and uses a proof-of-work consensus mechanism.

What makes Chromia (CHR) Unique?

Chromia is a unique blockchain platform that enables the deployment of decentralized applications using smart contracts. It boasts several features that set it apart from traditional blockchains. One such feature is its relational blockchain architecture, which allows for faster transactions, lower fees, and more scalability. Rather than using a global state, Chromia uses a local state for each DApp, which helps reduce complexity and overhead.

Chromia is an open-source development platform that enables developers to create DApps for various use cases, such as gaming, finance, and social media. Developers can use familiar languages like SQL and JavaScript to code their DApps. Chromia also offers built-in features such as authentication, encryption, indexing, and querying, which means developers do not have to write complex logic or rely on third-party services.

Chromia can be used as a public, private, or hybrid model blockchain, giving users and developers more flexibility and control over the data and governance of the DApps. Users can choose who can access their data and how it is validated, while developers can customize their fee structures and reward mechanisms.

Chromia supports massive scalability by allowing each DApp to have its own blockchain that runs on a subset of nodes in the network. This reduces the load and complexity of consensus and enables parallel processing of transactions. Chromia can handle up to 100,000 cell updates per second.

What is the CHR Token?

The Chromia platform has its own cryptocurrency, known as the CHR token. This token is specifically designed to enhance the platform's capabilities and facilitate smooth interactions between developers, users, and investors. While currently an ERC20 token, the website states that it will soon be transferred to the native blockchain. The CHR token serves multiple purposes, including functioning as a platform currency. It is the standard currency for decentralized applications on the platform, and these applications can collect usage fees in CHR tokens. Additionally, hardware nodes hosting decentralized applications on the platform receive CHR tokens as payment. Furthermore, the CHR token can also be used for staking.

Conclusion

Developers can utilize Chromia's platform to create a variety of decentralized applications and games. Users can access these applications and pay for their usage with CHR. Additionally, Chromia plans to integrate providers of computational resources and hardware into the platform to enhance the Dapp experience. These providers, known as node providers, will participate in a shared marketplace where they can connect with Dapp developers. As node providers offer support with data storage and computational resources, they will receive incentives in the form of CHR tokens.

Current price:

$0.2494More price details

All-time high:$1.5

All-time low:$0.008525

CHR supply and tokenomics

Circulating supply:797,133,100 CHR

Total supply:797,133,106.93 CHR

Max supply:978,064,789 CHR

Market cap:$198.80M

Fully diluted market cap:$243.92M

Token allocation:

Ecosystem Fund

38.06%

Promotional Fund

25.00%

Private Sale

17.94%

Founders

4.50%

Others

4.50%

IEO

4.00%

Auto Conversion Contract

3.00%

Advisors

3.00%

Tokenomics:

Uniqueness

Chromia is a blockchain platform that supports the deployment of decentralized applications using smart contracts . Some of the features that make Chromia unique are the following:

It uses a relational blockchain architecture, which means that each node in the network has its own relational database that can store and query data efficiently. This allows for faster transactions, lower fees, and more scalability than traditional blockchains. Unlike other blockchains that use a global state, Chromia uses a local state for each DApp, which reduces the complexity and overhead of consensus.

It is an open-source development landscape that enables anyone to create DApps for various use cases, such as gaming, finance, social media, and others. Developers can use familiar languages like SQL and JavaScript to code their DApps on Chromia. They can also leverage Chromia’s built-in features such as authentication, encryption, indexing, querying, etc., without having to write complex logic or rely on third-party services.

It can be used as a public, private, or hybrid model blockchain, depending on the needs of the users and developers. This gives more flexibility and control over the data and governance of the DApps. Users can choose who can access their data and how it is validated. Developers can also customize their fee structures and reward mechanisms for their DApps.

It supports massive scalability by allowing each DApp to have its own blockchain that runs on a subset of nodes in the network. This reduces the load and complexity of consensus and enables parallel processing of transactions. Chromia can also create hierarchically interconnected blockchains that can share data without compromising security or performance. Chromia can handle up to 100,000 cell updates per second.

Links

Website:https://chromia.com/

Whitepaper:https://chromia.com/documents/Chromia-_-Platform-white-paper2019.pdf

X:https://twitter.com/Chromia

GitHub:https://bitbucket.org/chromawallet/

Buy Chromia for $1Buy CHR now

What is the development prospect and future value of CHR?

The market value of CHR currently stands at $198.80M, and its market ranking is #319. The value of CHR is not widely recognized by the market. When the bull market comes, the market value of CHR may have great growth potential.

As a new type of currency with innovative technology and unique use cases, CHR has broad market potential and significant room for development. The distinctiveness and appeal of CHR may attract the interest of specific groups, thereby driving up its market value.

What will the price of CHR be in 2025?

Based on CHR's historical price performance prediction model, the price of CHR is projected to reach $0.3560 in 2025.

What will the price of CHR be in 2030?

In 2030, the CHR price is expected to change by +7.00%. By the end of 2030, the CHR price is projected to reach $0.7025, with a cumulative ROI of +164.26%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of CHR and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

CHR price CHR price prediction CHR news

Is CHR worth investing or holding? How to buy CHR from a crypto exchange?

If you want to buy CHR, the following information may be helpful for your investment decisions:

In the last seven days, the price of CHR has risen by 12.86%, leading to positive returns for most CHR investors. The market is currently optimistic about the price trend of CHR.

It is important to note that the current price of CHR has retreated by -83.37% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether CHR is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in CHR or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of CHR, if you want to buy or sell CHR, you can consider Bitget for your trading needs. The best place to buy CHR is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Chromia has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Chromia. Here's a step-by-step guide on how to buy Chromia on Bitget.

Buy CHR now Coin buying guide

How to get Chromia through other methods？

Using cash to buy Chromia is not the only way to obtain Chromia. If you have the time to spare, you can get Chromia for free.

Learn how to earn Chromia for free through the Learn2Earn promotion.

Earn free Chromia by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Chromia airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Chromia through Bitget Convert, Bitget Swap, or spot trading.

What is Chromia used for and how to use Chromia?

The use case of Chromia may expand as the crypto market and the project itself develop. Currently, you can use CHR to achieve the following goals:

Arbitrage by trading CHR: Since CHR is a frequently traded cryptocurrency, the price of CHR is always fluctuating. Earn more CHR by buying low and selling high on the exchange. Bitget spot market provides a variety of CHR trading pairs to fully meet your needs.

Earn by staking CHR: You can also generate income through financial management methods such as staking CHR or lending CHR. Bitget Earn offers a variety of financial products designed to help you earn more income from your CHR.

Send or pay CHR: If you want to give CHR to your friends, a charity, or a fundraiser, or you want to pay someone with CHR, you can quickly and easily send CHR to the recipient through their payment address.

You can also go to the official website of the Chromia project to learn more about the use cases of CHR. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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